United States Copper Index Fund (NYSEARCA:CPER) Stock Price Up 1.3% – Should You Buy?

United States Copper Index Fund (NYSEARCA:CPER)’s share price shot up 1.3% during mid-day trading on Wednesday . The company traded as high as $27.63 and last traded at $27.60. 246,526 shares traded hands during mid-day trading, an increase of 106% from the average session volume of 119,881 shares. The stock had previously closed at $27.24.

United States Copper Index Fund Stock Performance

The company has a market capitalization of $189.39 million, a PE ratio of 3.28 and a beta of 0.49. The company’s 50-day moving average is $26.10 and its 200 day moving average is $26.64.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of CPER. Ignite Planners LLC raised its holdings in shares of United States Copper Index Fund by 16.3% during the fourth quarter. Ignite Planners LLC now owns 11,129 shares of the company’s stock valued at $284,000 after purchasing an additional 1,560 shares during the last quarter. Stifel Financial Corp grew its position in United States Copper Index Fund by 130.7% in the 3rd quarter. Stifel Financial Corp now owns 28,541 shares of the company’s stock worth $809,000 after purchasing an additional 16,170 shares during the period. Beck Capital Management LLC purchased a new stake in United States Copper Index Fund during the 3rd quarter valued at $206,000. Apollon Wealth Management LLC lifted its holdings in shares of United States Copper Index Fund by 28.0% during the 3rd quarter. Apollon Wealth Management LLC now owns 20,720 shares of the company’s stock valued at $587,000 after buying an additional 4,536 shares during the period. Finally, Fidelis Capital Partners LLC purchased a new position in shares of United States Copper Index Fund in the 3rd quarter worth $215,000.

About United States Copper Index Fund

The United States Copper Index Fund, LP (CPER) is an exchange-traded fund that is based on the SummerHaven Copper index. The fund tracks a rules-based index of copper futures contracts selected based on the shape of the copper futures curve. CPER was launched on Nov 15, 2011 and is managed by US Commodity Funds.